老师，IPS 2015 Q1 PART B :为什么 the minimum return requirement 等于 discount rate（4.5%）, 而不是discount rate + inflation rate （4.5%+1.5%）

老师，请问衍生品CASE5，第2题，为什么shortstraddle的gamma是负数？

课后题Omega Financial最后两题，听Omega squawk box难道没有违反MNI嘛? 不是不应该听的嘛？Immediately shorts the stock of Tefla Corporation after an Omega analyst downgrades a firm in the same industry这样是不是属于没有进行尽职调查不diligence,那最后一题的选项B he does not have a reasonable basis for the trade为什么不选？

课后题Omega Financial第一题：提干里riskless principal transaction说是execute the order on a principal basis from another market center我理解是一个价格买？net trade说是execute the order at one price with another broker/dealer or another customer and then sells to the customer at a different price就是有买卖价差。那么institutional orders: riskless principal transaction怎么又traded on a net basis ?到底riskless principal transaction是有买卖价差还是一个价？

less curve不是flattening吗 怎么一个加凸性一个减凸性

为什么barbell受益于flat curve

老师好，衍生品的CASE4的第一题，听不太懂，可以用文字解说一下吗？谢谢

课后题A.J. Vinken第29题：quarterly return都是错的了，为什么还不能算是performance presentation的错误？

课后题Jason Locke第五题：题目说trade allocations must be reviewed at the end of each month, 答案中说client suitability for an investment must be reviewed prior to allocation, not forward. 我想问提干也没说是在allocation前review的呀，为啥这又是对的？

课后题Jason Locke, 第四题：为什么在发现了有违背IPS的情况下，不是直接limit & monitor行为吗？还是说limit & monitor只是superviosor对下属的？还是说只是当别人是违反了compliance policy？